In a surprising revelation, Apple CEO Tim Cook has been wearing more than one hat in the corporate world. While unveiling the latest iPad at an Apple event in May, Cook sported a custom-made pair of Nike sneakers with "Made on iPad" stitching, hinting at a deeper connection between the two companies. It turns out that Cook has been a member of Nike's board of directors since 2005, long before he took the reins at Apple.

Cook's role at Nike goes beyond just a symbolic position. As the company's lead independent director and chair of the compensation committee, he has been instrumental in shaping Nike's turnaround strategy. In a significant move, Cook helped secure the appointment of former Nike executive Elliott Hill as the company's new CEO, replacing John Donahoe, who had been endorsed by Cook just four years prior.

Hill, a Nike veteran who began his career as an intern and retired in 2020, returned to the company last week to take on the top job. His appointment comes at a critical time for Nike, which is facing slowing growth in China and other challenges. Cook's influence in bringing Hill back to the helm is seen as a key factor in Nike's efforts to revitalize its fortunes.

Cook's dual role at Apple and Nike raises interesting questions about the intersection of technology and sports, as well as the CEO's ability to juggle multiple high-profile responsibilities. As Apple continues to innovate and Nike works to regain its footing, Cook's unique position at the helm of both companies is sure to be closely watched by industry observers.